PUBLISHER: Grand View Research | PRODUCT CODE: 1474958
PUBLISHER: Grand View Research | PRODUCT CODE: 1474958
The global cultured food market size is expected to reach USD 55.88 billion by 2030, registering a CAGR of 8.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing significant growth, driven by a convergence of factors that are reshaping consumer preferences and food production practices. Health-conscious consumers seek options that offer both nutritional benefits and promote overall well-being, leading to increased demand for cultured foods, such as yogurt, kefir, and kombucha, which are rich in probiotics and are known for their digestive health benefits. However, concerns about the environmental impact of traditional meat production have spurred interest in alternative protein sources. Cultivated meat and seafood, produced through innovative biotechnological processes, offer a sustainable solution that requires fewer resources and generates fewer emissions compared to conventional animal agriculture.
Manufacturers are embracing collaboration and strategic alliances as essential drivers of innovation in the cultured food sector, enabling them to stay at the forefront of this rapidly evolving industry and meet the evolving demands of consumers for sustainable, ethical, and nutritious food options. For instance, in December 2023, CV Sciences, Inc., a leading consumer wellness company specializing in hemp extracts and other natural ingredients, finalized its acquisition of Cultured Foods, a prominent manufacturer and distributor of plant-based vegan foods. This acquisition presents an opportunity for CV Sciences to import these specialty foods into the U.S. market and establish a European hub for distributing +PlusCBD products, facilitating access to new retail and distributor partners. Moreover, it marks a significant step in CV Sciences' evolution into a diversified global health and wellness enterprise.